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If you have just received your 1098-T and you have already filed, but you are still interested in claiming education credit, youll need both: Your original Form 1040. A new 1040 with the corrections.
What should I do with my 1098-T? When youre ready to file your federal income tax return, make sure you have your Form 1098-T on hand if you received one. It can help you calculate two potentially valuable education credits the American opportunity tax credit and the lifetime learning credit.
A prior year form can only be claimed/reported in the tax year for which it was issued.
What will happen if you forgot to include your 1098-T information on your return? The answer is nothing. Thats right, the 1098-T is for informational purposes only. Its not similar to a 1099 that must be reported.
A prior year form can only be claimed/reported in the tax year for which it was issued.
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If you forgot to enter your 1098-T and are not going to claim the education credit AND did not have taxable scholarship income (scholarships that exceeded the tuition paid) you do not have to amend your tax return. Keep a copy of it with your tax records for at least three years.
You can get the full education tax credit if your modified adjusted gross income, or MAGI, was $80,000 or less in 2022 ($160,000 or less if you file your taxes jointly with a spouse). If your MAGI was between $80,000 and $90,000 ($160,000 and $180,000 for joint filers), youll receive a reduced credit.
You are not required to attach IRS Form 1098-T to your tax return. The IRS Form 1098-T is not like the IRS Form W-2 obtained from your employer, which is required to be attached to the tax return filed with the IRS.

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